Flexible Packaging Market in North America 2018-2022
About Flexible Packaging
In flexible packaging, the packaging is made of flexible material, the shape of which can be changed as per requirement. Flexible packaging can be in the form of pouches, wraps, and flexible containers, for both, primary and secondary packaging applications.Technavio’s analysts forecast the flexible packaging market in North America will earn a revenue of almost USD 25 billion by 2022.Covered in this report The report covers the present scenario and the growth prospects of the flexible packaging market in North America for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Flexible Packaging Market in North America 2018-2022
Technavio recognizes the following companies as the key players in the flexible packaging market in North America: Amcor, Bemis, Berry Global, Mondi, and Sealed Air.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rising market consolidation. The growing market consolidation will be one of the key factors driving the growth of the flexible packaging market in North America. Due to strong competitive pressure, several smaller players are entering into mergers and acquisitions (M&A) with larger players.”
According to the report, one driver in the market is rising demand for pouch packaging. Pouch packaging solutions offer numerous advantages such as low cost of packaging, low transportation and warehouse cost, and low energy consumption during packaging. This packaging technology offers significant convenience that is further complemented by the low cost of technology, to attract consumer preference.
Further, the report states that one challenge in the market is volatility in raw material prices. The main raw material used in flexible packaging are plastic and aluminum. The cost of these raw materials is one of the vital factors that affect the cost of the end-product.
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